Getting money out of countries with currency exchange restrictions
- Thread starter anticfc
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I don't get the concept of mirror trading, I find the Indian accent dude impossible to understand. The concept doesn't make sense. You have ABC Russia, ABC Hong Kong. Russian company with money trying to get it out to HK. I'm pretty sure I'm not understanding this correctly, but it seems like mirror trading seems to presume that the russian company already has the money and shares over in HK, if so, why would he even bother to mirror trade?
Like if you have $100 million in Russia, and are trying to get it to HK. I can see how ok Russian company buys rouble︀ shares of Walmarta, then gifts it to HK affiliate so its safe. But that is︁ not what is being done here. They are adding an additional step of Russian company︂ buys shares, HK sells shares back to russian company. So he ends up with shares︃ right back in Russia.
Like if you have $100 million in Russia, and are trying to get it to HK. I can see how ok Russian company buys rouble︀ shares of Walmarta, then gifts it to HK affiliate so its safe. But that is︁ not what is being done here. They are adding an additional step of Russian company︂ buys shares, HK sells shares back to russian company. So he ends up with shares︃ right back in Russia.
No, works better with ADR or︄ Russia-HK equivalent. Also, it does not necessarily have to be 100m or some huge amount︅ if a country is in the middle of financial crisis. Little guy can still turn︆ riskless profit and pay for airfare. Argentina comes to mind.
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